July 2011

Sec. 234B, Section 154

Madras H.C : Interest under section 234B could not be levied by the order under section 154 on the ground that the words used in section 209(1)(d) is ‘tax deductible at source’. Without appreciating that the said word is used in the context of payment of advance tax in the course of the ‘current year’ and the actual liability for levy of interest under section 234B has to be determined in the clear terms of Explanation 1 to section 234B

High Court Of Madras CIT vs. Reiter Inglostadt Spinners Imaechinanbau A.G. Assessment Years : 1991-92 And 1994-95 Section 234B, 154

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